Be sure to JOIN US for our three-part webinar series, “TRID A-Z”. These sessions will occur on November 5th, November 12th and November 19th
The CFPB has updated their TRID FAQs a couple of times in 2020 and one area of clarification involved disclosing fees that are “absorbed” versus “offset”. For example, if you’re not going to charge for something, such as a credit report, the fee doesn’t need to be disclosed on the Loan Estimate. It does, however, still need to be on the Closing Disclosure. The rules are a little different; however, when you “offset” costs.
Click on the video to listen to Jerod explain more.
Are you absorbing costs or are you offsetting costs? And the topic is TRID. And the answer to that question is going to be very important for how things get disclosed on your loan estimate and your closing disclosure.Here is some feedback we’ve received on “TRID A-Z”:
This webinar was absolutely what I was hoping it would be. I have a couple new employees to the department and this webinar gave some of the basic information they needed to hear. Jerod covered a lot of information in great detail. It was delivered in a manner that our new employees could understand. Thank you! I feel like this is one of the best webinar’s we have attended.
It’s very helpful to have the information presented in terms we can understand.
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Published
2020/11/04